The European Union and India have announced a matchmaking platform to foster collaboration among startups working towards battery recycling technologies for electric vehicles (EV) in both the regions.

Expressions of Interest have been invited (EoI) for a matchmaking event between European and Indian Small and Medium-sized Enterprises (SMEs) and startups in the sector.

The EoIs have to be submitted between April 9 and 30, 2024. The matchmaking event has been tentatively scheduled for June 20.

The platform is expected to allow firms to pitch innovative solutions and engage with venture capitalists and solution adopters based in both countries. Six innovators from India and the EU will be selected.

Twelve innovators, six each from India and the EU, will be selected and get a pitching opportunity during the matchmaking event. Six finalists (three from the EU and three from India) will be chosen following their pitching presentations and awarded the possibility to visit India and the EU, respectively.

Eligibility criteria

Legal entities established in India or EU member states are eligible to apply, provided they are currently engaged in recycling activities for EV batteries.

The EU-based deep technology startups must also demonstrate interest and capacity to enter the Indian market and collaborate with stakeholders.

Applications from advanced-stage deep technology startups or firms in the targeted sector of recycling EV batteries are preferred.

The EU companies will be evaluated on their demonstrated interest and capacity to enter the Indian market and collaborate with the stakeholders in terms of relevant technology and global competitiveness.

Selection Process

Six startups will be selected based on their scores during their presentations. They will also secure an exclusive virtual platform to connect with industry leaders, potential investors, and collaborators from both India and the EU.

To match with policymakers and potential clients, the solutions pitched by EU startups must be valid for application in the Indian market.

Further, three startups from the EU will also be invited to meet with potential partners, customers, and collaborators in India based on the interactions during pitching and individual matchmaking.

This platform proves advantageous for Indian SMEs, as they get access to an exclusive avenue to demonstrate their expertise and establish strategic alliances with their counterparts in the EU. This will primarily benefit firms focusing on waste minimization and resource sustainability in recycling technologies.

The screened-in applications will be asked to present to the selection committee, and the selected application will be notified 25 days after the closing of the application on April 30.

India- EU Trade and Technology Council

This event is part of a broader effort to promote a sustainable agenda, foster innovation, and forge stronger economic relations between the European Union and India.

The initiative stems from the India-EU Trade and Technology Council (TTC), a strategic coordination between the two countries that was announced in April 2022. The TTC is also premised on fostering digital public infrastructures, clean energy technologies, supply chain resilience, and trade issues.

“Our objective is to harmonize efforts with EU innovators to jointly develop battery recycling solutions that drive industry expansion. We are dedicated to fostering a collaborative environment where sustainability and innovation form the cornerstone of a flourishing circular economy”, said  Ajay Kumar Sood, Principal Scientific Adviser to the Government of India.

Last August, a NITI Aayog report had pegged India to significantly attract global investments in battery recycling, given that the country’s cumulative reuse volume potential is likely to touch 49 GWh by 2030.

Earlier this year, the EU pushed forth the Net-Zero Industry  Act, legislation supporting domestic manufacturing of key technologies, including batteries.